Mortgage News Daily reported on Tuesday that data released from the American Bankers Association seems to point towards more loan delinquencies and potentially more mortgage defaults. If you want to read the article in its entirety, here it is: Bad News for Housing Recovery.
Essentially, the article states that they are seeing increasing rates of delinquent payments in most of the loan types (other than mortgages), such as home equity loans, home equity lines of credit, auto loans, etc.
Job losses and decreased hours seem to be accounting for these numbers.
